The Trevor Toy Company manufactures toy building block sets for children. Trevor is planning for 2019 by developing a master budget by quarters. Trevor's balance sheet for December 31, 2018, follows: (Click the icon to view the balance sheet) Other budget data for Trevor Toy Company Click the icon to view the other data) Read the requirements Requirement 9. Prepare the standard cost income statement for 2019. (Use a minus sign or parentheses to enter any contra expenses and/or an operating loss. Enter all other amounts as positive numbers.) Review these ble budget erformance report from Beguramente Trevor Toy Company Standard Cost Income Statement For the Year Ended December 31, 2019 Net Sales Revenue Cost of Goods Sold at standard cost Manufacturing Cost Variances Direct Materials Cost Variance Direct Materials Efficiency Variance Read the requirements. Direct Materials Efficiency Variance Direct Labor Cost Variance Direct Labor Efficiency Variance Variable Overhead Cost Variance Fixed Overhead Cost Variance Fixed Overhead Volume Variance Variable Overhead Efficiency Variance Total Manufacturing Cost Variances Cost of Goods Sold at actual Gross Profit Read the requirements. Direct Labor Eticiency variance Variable Overhead Cost Variance Fixed Overhead Cost Variance Fixed Overhead Volume Variance Variable Overhead Efficiency Variance Total Manufacturing Cost Variances Cost of Goods Sold at actual Gross Profit Selling and Administrative Expenses Operating Income (Loss) Flexible Budget Performance Report Sales Budget Amounts Actual Flexible Budget Variance Flexible Volume Static Per Unit Results Variance Units 5,800 Budget 5.800 464.000 $ Budget 5.000 400,000 Net Sales Revenue $ 80.00 $ 464,000 $ 0 S 64,000 F S 2.266 U Variable Costs Product Costs Selling and Admin. Costs Contribution Margin Fixed Costs 36.426 4.640 1.200 U 0 35.226 4,640 32.960 4.000 640 U 422.934 1.200 U 424,134 61,094 F 363,040 Product Costs 0 18,500 70.400 2.500 F 0 21.000 70,400 21,000 70.400 Selling and Admin Costs 0 $ 334.034 S 1.300 S 61.094 332 734 $ S Operating Income 271.640 Flexible Budget Performance Report 4 5 Trevor Toy Company Flexible Budget Performance Report For the Year Ended December 31, 2019 2 3 (1)-(3) Budget Flexible Amounts Actual Budget Flexible Per Unit Results Variance Budget 5,800 5.800 $ 80.00 $ 464,000 $ 0 $ 464.000 $ (3) - (5) Sales Volume Static Variance Budget Units 5,000 Net Sales Revenue 64.000 F 400,000 Variable Costs Product Costs 2.266 U 36,426 4.640 1.200 U 0 35,226 4.640 32.960 4.000 Selling and Admin Costs 640 U Print Done The Trevor Toy Company manufactures toy building block sets for children. Trevor is planning for 2019 by developing a master budget by quarters. Trevor's balance sheet for December 31, 2018, follows: (Click the icon to view the balance sheet) Other budget data for Trevor Toy Company Click the icon to view the other data) Read the requirements Requirement 9. Prepare the standard cost income statement for 2019. (Use a minus sign or parentheses to enter any contra expenses and/or an operating loss. Enter all other amounts as positive numbers.) Review these ble budget erformance report from Beguramente Trevor Toy Company Standard Cost Income Statement For the Year Ended December 31, 2019 Net Sales Revenue Cost of Goods Sold at standard cost Manufacturing Cost Variances Direct Materials Cost Variance Direct Materials Efficiency Variance Read the requirements. Direct Materials Efficiency Variance Direct Labor Cost Variance Direct Labor Efficiency Variance Variable Overhead Cost Variance Fixed Overhead Cost Variance Fixed Overhead Volume Variance Variable Overhead Efficiency Variance Total Manufacturing Cost Variances Cost of Goods Sold at actual Gross Profit Read the requirements. Direct Labor Eticiency variance Variable Overhead Cost Variance Fixed Overhead Cost Variance Fixed Overhead Volume Variance Variable Overhead Efficiency Variance Total Manufacturing Cost Variances Cost of Goods Sold at actual Gross Profit Selling and Administrative Expenses Operating Income (Loss) Flexible Budget Performance Report Sales Budget Amounts Actual Flexible Budget Variance Flexible Volume Static Per Unit Results Variance Units 5,800 Budget 5.800 464.000 $ Budget 5.000 400,000 Net Sales Revenue $ 80.00 $ 464,000 $ 0 S 64,000 F S 2.266 U Variable Costs Product Costs Selling and Admin. Costs Contribution Margin Fixed Costs 36.426 4.640 1.200 U 0 35.226 4,640 32.960 4.000 640 U 422.934 1.200 U 424,134 61,094 F 363,040 Product Costs 0 18,500 70.400 2.500 F 0 21.000 70,400 21,000 70.400 Selling and Admin Costs 0 $ 334.034 S 1.300 S 61.094 332 734 $ S Operating Income 271.640 Flexible Budget Performance Report 4 5 Trevor Toy Company Flexible Budget Performance Report For the Year Ended December 31, 2019 2 3 (1)-(3) Budget Flexible Amounts Actual Budget Flexible Per Unit Results Variance Budget 5,800 5.800 $ 80.00 $ 464,000 $ 0 $ 464.000 $ (3) - (5) Sales Volume Static Variance Budget Units 5,000 Net Sales Revenue 64.000 F 400,000 Variable Costs Product Costs 2.266 U 36,426 4.640 1.200 U 0 35,226 4.640 32.960 4.000 Selling and Admin Costs 640 U Print Done